VTS NAMED TO THE 2020 FORBES CLOUD 100 LIST —PropTech Unicorn Honored As One of the World’s Best Cloud Companies for the Second Consecutive Year—



VTS, the commercial real estate industry's leading leasing, marketing, and asset management platform, has been named to the Forbes 2020 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners & Salesforce Ventures.



“We’re thrilled to be recognized on the Forbes Cloud 100 list for the second year in a row,” said Nick Romito, CEO and Co-Founder of VTS. “2020 has undoubtedly been a year filled with uncertainty, however, these unprecedented times have underscored the critical need for online leasing and marketing software. Our entire team across the U.S., Canada, and the U.K. has worked tirelessly to provide our customers with the support and resources they need to navigate the pandemic. This recognition is testament to their dedication and commitment.”



Since its founding in 2012, VTS has revolutionized commercial real estate – one of the world’s largest and least tech-enabled asset classes. VTS established the technology category of leasing and asset management and enables landlords and brokers to manage the end-to-end leasing process and tenants from any device. VTS offers solutions for owners of office, retail, and industrial space, and is driving the industry-wide shift towards using real-time data to make portfolio decisions.



Today, more than 12 billion square feet of commercial real estate–an amount equivalent to roughly 20 New York Cities in size–is managed on VTS, including one in every three office buildings in the U.S. More than 45,000 users across more than 40 countries use VTS to convert leads to leases 41-percent faster and build data-led asset strategies, transforming their leasing and asset management processes. VTS has eight out of 10 of the world’s largest property owners as clients, boasting an impressive roster of global leaders including Blackstone, Brookfield, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties Group, JLL, and CBRE.



As part of the rigorous selection process for the Forbes 2020 Cloud 100, Bessemer Venture Partners received submissions from hundreds of cloud startups. The Cloud 100 Judging Panel, made up of public cloud company CEOs, reviewed the data to select, score, and rank the top 100 private cloud companies from all over the world. The evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%).



“The private cloud ecosystem continues to mature in light of rapid digital transformations, making the competition to land one of the coveted spots on the Cloud 100 list steeper than ever,” said Byron Deeter, a top cloud investor, and partner at Bessemer Venture Partners. “Private cloud valuations are getting bigger as the market’s appetite for cloud continues to grow. Over the past five years, the average Cloud 100 valuation has grown by a tremendous 2.5x, from $1 billion in 2016 to $2.7 billion in 2020. In fact, our 2020 Cloud 100 includes over 87 private cloud unicorns! These founders represent the absolute best in cloud computing today, and they will most certainly follow in the footsteps of our esteemed Cloud 100 alumni. More than a third of the companies of the Cloud 100 have exited either via strategic M&A, financial M&A or Initial Public Offering. Congratulations to these cloud leaders!”



VTS’ ranking as #90 on the 2020 Cloud 100 list follows a multitude of noteworthy milestones. The company hit the ground-running in 2020, launching VTS Retail—software built specifically for retail landlords to solve complex problems in their leasing process—in January. In response to the pandemic, in June 2020 the company accelerated the release of VTS Market—the CRE industry’s first integrated, online marketing platform that enables landlords and their agency teams to market and lease their available spaces remotely for the first time ever.



“In the face of this unprecedented time, digital is an urgent imperative, and the pace of innovation is accelerating. Companies around the globe, across all industries must adopt cloud technologies to enable their digital transformation,” said Matt Garratt, Managing Partner, Salesforce Ventures. “The opportunity is massive for the cloud -- there are now more than 25 public SaaS companies valued at over $10 billion whereas even five years ago there were only three. Sectors from collaboration and security to retail and healthcare, are being disrupted and becoming more digital. Salesforce Ventures is excited to be partnering with Bessemer Venture Partners and Forbes for the fifth year in a row to recognize those who are not just predicting what’s coming but working to create the future.”



“For five years now, we have ranked the best and brightest emerging companies in the cloud sector,” said Alex Konrad, Forbes editor of The Cloud 100. “With so many businesses growing fast in the cloud, from data infrastructure to marketing, it’s harder than ever to make the Cloud 100 list – but with more elite company if you do. Congratulations to each of the 2020 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”



The Forbes 2020 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2020 issue of Forbes magazine.



The Cloud 100 and the 20 Rising Stars companies are publicly recognized at this year’s first-ever virtual Cloud 100 with memorable discussions from top cloud CEOs at thecloud100.com on September 16th from 9:00am PT - 12:00pm PT hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to our virtual event sponsors Amazon Web Services (AWS), Bank of America, Cooley, FuelxMcKinsey, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nasdaq, Qatalyst Partners, Silicon Valley Bank, Simon-Kucher & Partners, and WisdomTree.